Naira records depreciation against US dollar across official, black markets
The Nigerian naira continued to face pressure as it recorded further depreciation against the U.S. dollar in both the official and black markets. Traders and financial analysts reported that the currency struggled throughout the day, reflecting ongoing supply shortages in the foreign exchange market. This drop has raised fresh concerns about currency stability and its […]
Naira continues depreciation against US dollar to end on negative note
The Nigerian Naira continued its downward trend against the US dollar, closing the week on a negative note. Traders reported increased demand for dollars, while supply from exporters remained limited, putting pressure on the local currency. The Central Bank of Nigeria (CBN) continues to monitor the situation closely. Analysts noted that the ongoing depreciation reflects […]
Naira records first appreciation against US dollar as foreign reserves hit $46.7bn
The Nigerian naira has recorded its first major appreciation against the US dollar in months, following a boost in the country’s foreign reserves. According to recent data, Nigeria’s reserves have climbed to $46.7 billion, giving the currency some much-needed support in the foreign exchange market. Analysts say this improvement signals a positive shift in market […]
Naira returns to depreciation against US dollar
The Nigerian Naira has once again slipped in value against the US dollar, raising fresh concerns about the country’s economic stability. After a brief period of recovery, the currency weakened across major foreign exchange markets, with traders attributing the decline to increased demand for dollars and limited supply. Businesses relying heavily on imported goods are […]
NGX records massive N2.5tn gain first time since Trump’s threat shockwave
The Nigerian Exchange (NGX) has recorded a remarkable N2.5 trillion gain, marking the first significant recovery since the economic shock caused by former U.S. President Donald Trump’s recent threats against Nigeria. The surge comes after a period of heightened investor anxiety and market volatility triggered by Trump’s designation of Nigeria as a “Country of Particular […]
Naira Extends Gains Against USD, Reaches 10-Month High
Nigeria’s currency, the Naira, continued its upward momentum last week, marking a significant milestone in its recovery against the U.S. dollar. During the week ending October 10, 2025, the naira appreciated by 0.72% at the official foreign exchange market, closing at ₦1,455.17 per dollar, according to data from the Central Bank of Nigeria (CBN). This […]
Naira records second straight depreciation against US dollar
The Nigerian Naira continued its slide against the US dollar on Thursday, marking the second day in a row of depreciation in the official foreign exchange market. According to figures from the Central Bank of Nigeria (CBN), the Naira closed at ₦1,498.98 per dollar, weaker than Wednesday’s rate of ₦1,494.03. This represents a daily drop […]
Naira rises to N1,530/$ in Parallel market
The naira has risen to N1,530 per dollar in the parallel market, improving from last week’s rate of N1,535 per dollar. However, in the Nigerian Foreign Exchange Market, it dropped slightly, trading at N1,513 per dollar compared to N1,511.5 last week, showing a small decline of N1.5. Data from the Central Bank of Nigeria confirmed […]
Naira slides to N1,550/$ in parallel market
The Naira continued its decline on Tuesday, August 26, closing at N1,550 per dollar in the parallel market, down from N1,540 per dollar recorded on Monday. In the official Nigerian Foreign Exchange Market, the local currency also weakened slightly, trading at N1,537 per dollar compared to N1,536.99 per dollar the previous day, according to the […]
Naira records three consecutive depreciations against US dollar
The Naira on Wednesday recorded its third straight loss against the United States dollar at the official foreign exchange market, even though Nigeria’s external reserves have risen to $41 billion. Data from the Central Bank of Nigeria showed that the Naira closed at ₦1,536.73 per dollar, weaker than the ₦1,534.93 rate recorded on Tuesday. This […]